![]() Investors expect GDP data from the US next week.A succession of global interest rate hikes unsettled investors.The dollar rose after hawkish statements by Fed Chair Jerome Powell. The USD/JPY weekly forecast is bullish as safe-haven dollar strength will likely continue amid global recession worries. ![]() The USD/JPY experienced a bullish week, primarily driven by the strengthening dollar. The dollar’s rise was primarily influenced by hawkish statements by Fed Chair Jerome Powell during his testimony to Congress. – Are you interested in learning more about Canada forex brokers? Check our detailed guide-Īdditionally, a succession of global interest rate hikes unsettled investors, prompting a rush toward the dollar as a safe haven. Concerns emerged regarding the possibility of these hikes leading to an economic downturn. On Thursday, the US dollar and Treasury yields increased due to Federal Reserve Chair Jerome Powell’s suggestion that additional US interest rate hikes might be necessary to manage inflation. Powell conveyed this message during his remarks to lawmakers in Washington on Wednesday. He emphasized that if the current economic trajectory persists, it is reasonable to anticipate two more 25-basis-point rate increases. 1 Iota 0 United States dollar, 1 United States dollar 0 Iota. IOTA is a decentralised, scalable cryptocurrency created for the Internet of Things. The pair indicates how many IOTA units are needed to purchase one American dollar. IOTA is the base currency, USD is the counter currency. Investors will receive several important reports from the US and Japan that will likely cause some volatility next week. Quickly and easily calculate foreign exchange rates with this free currency converter. IOTA / USD The pair features a real-world currency (American dollar) and a digital currency (IOTA). ![]() The recent price action in IOTA left the tokens market capitalization at 459,241,954.19. The most significant reports will be GDP and core PCE data from the US and inflation data from Japan. The IOTA price is 0.15407, a change of -2.05 over the past 24 hours as of 4:12 a.m. GDP data will show whether there was growth in the US economy and the impact of high-interest rates on the economy. On the other hand, the core PCE report is a major tool the Fed uses to gauge inflation. ![]()
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